travellers cheques euro

[petebb]

we are travelling to malgrat spain and have been advised to tak eeuro travellers cheques. is there any charge for changing these for cash in euros. we do normally have sterling cheques but was advised for euros

[mushroom25]

you really don't need traveller's cheques at all in spain.
get your cash from atms with your debit card. as long as you get sensible amounts out on each occasion, it works out cheaper.

[teacher1]

It also works out cheaper when using a debit card if you withdraw larger amounts rather than lots of smaller ones as there is a small charge for each withdrawal.

[petebb]

i have already ordered euro travellers cheques but am concerned that we will loose money when cashing them. can anyone advise me please. thanks

[Buenchico]

The reason that you've been advised to take euro traveller's cheques is that you (theoretically) pay all the charges before you travel. You should (once again, in theory) be able to get your euros without additional charge but this might well depend upon where you change them. For example, a bank which only opens inconvenient hours and always has lengthy queues might well give you 'face value'. An independent bureau de change, which opens until late at night and offers quick service, might charge a fee.

The cheapest way to obtain euros is almost always by using a debit card at an ATM. The exchange rate is usually close to the 'commercial rate' (rather than the normal, poorer, 'tourist rate') and the charges are generally quite reasonable or even free. How do you get your money without paying charges for cash withdrawals? Dead easy. Instead of heading to a bureau de change to get your traveller's cheques, take your holiday money into any Nationwide branch and open a FlexAccount. Then withdraw your funds, as you need them (with no charges and with a good exchange rate) at any overseas ATM.

Chris

[dzug]

Who advised you? It's really duff advice. You lose money when you buy them, you lose money when you cash them unless you are lucky and you lose money when you convert them back to sterling when you get home.
The only good thing is that they are replaceable if lost/stolen.

[Im a BusyBee]

ive stopped using travellers cheques cos of the cost. all previous answers are exactly right.

[mrsann]

I agree with previous answers completelyas a long term live abroad in Spain.Easily the best way to obtain eoros is via ATM machines.Best of all is to use a Nationwide card (worth opening a flex account if you travel a lot) as they don't charge for conversion and seem to give about the best rate available.I use both their debit and credit card and have saved so much over several holidays my partner now has them too and finds a big difference Travellers cheques are just one big ripoff